Singapore’s Epic Gas is expanding its gas carrier fleet, having entered into a letter of intent to purchase secondhand LPG carriers.
The Charles Maltby led company anticipates financing the acquisition with a combination of equity and debt, which will see a share capital increase of between $50-60m.
The deal is still subject to board approvals on both sides, financing and the execution of definitive documentation.
Epic Gas currently owns and operates a fleet of 39 fully pressurised gas carriers.